Infosys Limited (INFY) Acquires oddity

Infosys (NYSE: INFY) a global leader in next-generation digital services and consulting, today announced a definitive agreement to acquire oddity, a Germany-based digital marketing, experience, and commerce agency. The move strengthens Infosys' creative, branding and experience design capabilities, and demonstrates its continued commitment to co-create with clients and help them navigate their digital transformation journey.

With more than 300 digital experts located in Stuttgart, Berlin, Cologne, Belgrade, Shanghai and Taipei, oddity is one of the largest independent digital agencies from Germany.

Enabling digital transformation for leading German omni-channel, e-commerce retailers, leading FMCG brands and global mobility providers, oddity has a comprehensive service portfolio comprising digital-first brand management and communication, in-house production, including virtual and augmented reality, experience design and e-commerce services across Europe and China.

Together with Infosys' earlier acquisition of WONGDOODY, which offers creative and marketing services, oddity will help global CMOs, and businesses thrive in a digital commerce world with complementary skills and expertise. As part of Infosys' digital experience and design offering, oddity will become part of WONGDOODY, an Infosys company, and join its network of studios across Seattle, Los Angeles, New York, Providence, Houston, and London, and design hubs in five cities in India.

Ravi Kumar S, President, Infosys, said, "We find ourselves at the cusp of the next generation of the internet, the merging of the physical and virtual worlds. With this vision, we are excited to strengthen our experience and marketing skills with oddity, to deliver forward-thinking, holistic solutions at a global scale. With oddity's digital commerce and marketing knowledge as well as its metaverse-ready set-up, it is the perfect complement to Infosys' prowess in technological transformation."

"The future of better human-centered marketing lies in the symbiosis of creativity and technology (data, automation, AI). This is where we see the opportunity for a unique differentiation together with Infosys and WONGDOODY. We are ambitious to further develop our services jointly and are proud to become part of one of the world's most respected digital tech companies." said oddity founders Frank Boegner, Marc Bürkle, Simon Umbreit and Christian Gölz.

Ben Wiener, CEO, WONGDOODY, an Infosys company, added, "Meeting oddity was like meeting a long-lost twin. We share the same values and vision around the power of creativity to accelerate digital transformation for our clients, while recognizing that it's our people and culture that drive our success. We are united in our shared belief that digital transformation is at its best when it is consistently approached from a people-based, needs-centred perspective."

The acquisition is expected to close during the first quarter of fiscal 2023 (April 2022), subject to customary closing conditions.

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